Commenting on reports that the government’s ‘shares for rights’ scheme being used for tax avoidance, Shadow Business Secretary Chuka Umunna MP said:

“A scheme introduced to strip employment rights from workers is now being
used by private equity firms to avoid tax.

“If we needed any reminding that this is a Government that stands up for
the privileged few rather than hard-working families then this is it.

"The Government were warned by the independent OBR that this scheme would foster a whole new tax avoidance industry. Now the evidence suggests this
is already what is happening.”